Multiple choice

A new partner is held liable for all acts of the firm done

  1. before he became a partner

  2. after he became a partner

  3. any time after even he ceases to be a partner and upto his death

  4. before or after he became a partner
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

A new partner is liable only for firm obligations incurred after joining the firm. They are not responsible for past debts or actions. Liability begins from the date of admission and continues while they remain a partner, but past obligations remain with previous partners.

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